Unique Wealth Strategies LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Unique Wealth Strategies LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,567 shares of the industrial products company's stock, valued at approximately $722,000.

Other hedge funds have also recently made changes to their positions in the company. Aubrey Capital Management Ltd purchased a new stake in Parker-Hannifin in the fourth quarter worth about $2,858,000. Delta Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $231,000. Citizens Financial Group Inc. RI purchased a new stake in Parker-Hannifin in the fourth quarter worth about $261,000. Golden State Equity Partners lifted its stake in Parker-Hannifin by 9.8% in the fourth quarter. Golden State Equity Partners now owns 605 shares of the industrial products company's stock worth $279,000 after acquiring an additional 54 shares during the period. Finally, Syon Capital LLC lifted its stake in Parker-Hannifin by 7.4% in the fourth quarter. Syon Capital LLC now owns 1,057 shares of the industrial products company's stock worth $487,000 after acquiring an additional 73 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at approximately $6,693,299.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at approximately $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 in the last three months. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PH. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a "buy" rating and a $602.00 price target for the company. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and increased their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group reissued a "buy" rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $515.38.

Parker-Hannifin Stock Performance

NYSE:PH traded up $4.26 during midday trading on Friday, hitting $553.64. The company's stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. Parker-Hannifin Co. has a fifty-two week low of $312.36 and a fifty-two week high of $570.15. The firm's 50 day moving average is $543.27 and its 200-day moving average is $478.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market cap of $71.09 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.01 and a beta of 1.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.76 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin's payout ratio is 29.31%.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.